1. what is international relationship?
International relations (IR) is the study of relationships between countries, including the roles of states, inter-governmental organizations (IGOs), international nongovernmental organizations (INGOs), non-governmental organizations (NGOs) and multinational corporations (MNCs). It is both an academic and public policy field, and can be either positive or normative as it both seeks to analyze as well as formulate the foreign policy of particular states. It is often considered a branch of political science.
NO! Only a fraction of the world?s people has access to computers or the energy needed to operate them. How would a deaf-mute access literary works
The main conditions required are:
1. Either a finite number of agents or goods.
2. No externalities - That is, the consumption of one person should not harm or benefit anyone else.
3. No matter how much a person is consuming, they must be able to be made slightly happier by consuming a bit more of something.
4. What is theory of mercantilism?
Mercantilism was the economic philosophy underlying English colonial policy. The object of mercantilism was to increase the wealth of the Mother County (Great Britain) in gold and silver. To accomplish that goal, a favorable balance of trade was desired. That means that a nation would sell more than it would purchase, thus creating a surplus in the treasury. The name of the philosophy points out the importance is of merchants in this policy. Merchants would sell products to foreign nations and purchased items to be sold within the nation. Colonies played a vital role in mercantilism. A colony would supply the necessary raw materials to the industries of England and the colonists would be a source of income to the nation because they would buy the finished products and supplies they needed to grow, from the Mother Country. The ideal was to become self-sufficient. The nation would produce everything its people needed and buy nothing from foreign nations. Since the ideal could not be accomplished in the real world of economics, the object of mercantilism was to minimize imports that cost money and maximize exports and the trade that brought money in to the nation.
5. Can you explain Does Europe the USA or China have the largest economy?
1- Europe (remember Italy, French, UK and Germany are 4 world's power) 2- USA 3- China.
2006 GDP Figures from the CIA World Fact book, in Trillions of dollars, purchasing power parity:
European Union: 13.080
United State: 13.060
China: 10.210
Prior to 2005, and probably back to 1942, the United State surpassed the EU.
6. Tell me What currency was used in the 1700s?
This depends on the country. Most currencies, however, were based on gold and silver.
In America, in the 13 colonies, tobacco was mostly used as a type of currency.
7. Tell me What kind of market structure is the automotive industry?
There are many ways to describe the market structure of the automotive industry. Here are two:
One of heterogeneous buyers makes up the population and nearly homogeneous sellers. This means that everyone (the population) needs a car (because a car is not a luxury item), but everyone has different needs (i.e.: compare a mother of 4 to a construction worker). Thus, buyers are everyone in the population, and they are heterogeneous (different). However, sellers are practically the same. GM, Ford, Chrysler, Nissan, Honda, Toyota, etc all offer the same products. Thus, they are homogeneous (similar).
Buyers with high brand-preference and highly marketed sellers this means that many automobile buyers have a brand loyalty, and sellers market to cultivate that loyalty. A great example of this is Jeep and Harley Davidson. Both companies have created a kind of community amongst their owners (I am sure we have all seen two Jeeps passing and the driver?s wave at each other).
8. Explain Why do some people believe that a mixed economic system solves basic economic problems?
It is because both the private sector and public sector have a say in answering the basic economic questions, thus, there will be a degree of high efficiency (due to the private sector involvement) and social welfare too (due to the public sector involvement).
It allows the Government to intervene when the economy faces market failure. The mixed economic system allows markets to operate freely until it fails to allocate resources efficiently, after this, the government agencies, such as the EU Competition Commission, are able to correct for these failures. If this had been a completely free economic system, Government agencies would not have the means of power to be able to intervene.
9. Do you know What are the advantages of free market economy?
There are many advantages to a free market economy. They range from the moral issues to the practical issues. We will deal mainly with the practical ones.
Unprecedented innovation - Free markets are wrought with inventions and the capital to research them. Countries classified as having a free market have been responsible for the vast majority of inventions since the 19th century.
Very high-income mobility - This means that under a free market system it is easier to move around income brackets. It is just easier to become rich or poor when you are left to your own devices as opposed to a controlled economy where resources are allocated by the government.
10. Tell me what you understand by International relations and business?
International relations and business is the study of an international system. This system includes things like diplomatic history, international law, international organizations, international finance and economics, and communications.
International relations and business acts as a link between the changing relations of state and non-state actors. The international system as a whole consists of forces, factors and interests, customs, rules, norms, and institutions from which the theory and history of its development occurred.
11. Do you know what skills are required in International relations?
★ Ability to research, in-source and examine information thoroughly.
★ Excellent writing and speaking skills.
★ Ability to analyze information and present arguments accordingly.
★ Flexibility and openness to any kind of work.
★ Knowledge of historical information of our contemporary world.
★ Knowledge of cross-cultural differences.
★ Understanding of the international social, political, and economic relations.
The knowledge of language depends on the country you are working for but the knowledge of English is a must. You need to have command over at least one foreign language through 300 level language and literature courses.
13. Tell me where does the theory of Mercantilism fit into International relations?
The theory of Mercantilism includes a national economic policy that aims at maintaining the monetary reserves along with a positive balance of trade. According to some mercantilists, the increasing population would outgrow its resources and the need to develop bigger markets and armies may arise.
14. On what basis of the principles theory of Mercantilism fits into international relations?
★ Mercantilists thought that the amount of wealth in the world would remain unchanged.
★ They believed that a country's wealth just includes the amount of precious metal or billions it has.
★ Encouraging exports over imports so as to get a favorable balance in foreign trade.
★ A large population of a country would be the key to autonomy and state power.
★ They had a belief that the state should play a dominant role in assisting and directing the national and international economies to these ends.
15. Tell me what are the different types of market structures required for automotive industry?
These are the different types of market structures that are required for automotive industry:
★ Perfect Competition
★ Monopoly
★ Monopolistic Competition
★ Oligopoly
16. Define perfect competition market structures required for automotive industry?
Perfect competition industry is one that consists of many small buyers and sellers. These type of industries produce similar types of products, and consumers have complete knowledge about the products and their prices. There is huge competition among all the sellers. Some examples are the industries which produce agricultural products, such as livestock, corn and wheat.
17. Define Monopoly market structures required for automotive industry?
In the monopoly industry they have a single seller of a product and that particular product has no close substitutes. There is no competition in such market structure as there is only one seller. There is no control on prices as it depends on the demand of the product. Examples are local telephone service and water supply.
18. Define Monopolistic competition market structures required for automotive industry?
Monopolistic industries consist of both competition and monopoly. They have many firms that provide substitute products. There products are differentiated on the basis of physical attributes, images, advertisements and services. For example, Domino's and Pizza Hut both offer pizza but they are differentiated on the basis of ingredients, recipes and taste. Customers choose the best one on the basis of their service and quality of the product.
19. Define oligopoly market structures required for automotive industry?
Oligopoly is an industry where very few firms dominate. They are of two types such as differentiated and undifferentiated. An example of differentiated market can be seen in different Airlines offering the same thing but differing in their services.
20. List the basic problems of a mixed economy?
★ What to produce?
★ How to produce?
★ For whom to produce?
21. What to produce in mixed economy system solve the problem of basic economic problems?
In mixed economy 'what to produce' is decided on the basis of demand and some private sectors. Firms examine demand and concentrate on goods whose demand is more. This question is then answered by the market forces of demand and supply. The motive is to obtain economic growth as well as social welfare.
22. How to produce in mixed economy system solve the problem of basic economic problems?
Once 'what to produce' is decided, 'how to produce' is the next problem that arises. They need to decide what techniques are to be used. Techniques depend on the cost of production. It can be either capital intensive technique or labor intensive technique.
23. For whom to produce in mixed economy system solve the problem of basic economic problems?
Public and private sectors decide the distribution of goods and services. They decide it on the basis of the level of income. If the demand of a thing is more, then its production will be more.
24. Tell me the examples of free market economy?
In a free market economy the allocation of resources is determined by the demand and supply without any interference of the government.
Examples of free market economy are listed below.
★ Deregulation of the US airlines in 1979 provided consumers with more choice and lower air fares.
★ The cable industry was deregulated in 1996 and the cable TV rates went up enormously. As per the report presented by the US Public Interest Research Group (PIRG) in 2003, cable rates increased by more than 50% between 1996 and 2003. Clearly, in this case of deregulation, increased competition did not reduce prices for consumers.
25. Do you know when and where did the 'oil for food scandal' occurred?
Oil for food scandal is one of the biggest scandals in human history. The UN Security Council started the Oil-for-Food program in 1996 to allow Iraq to sell enough oil to pay for food and other necessities for its population which was suffering under strict UN sanctions imposed after the first Gulf War. But Saddam Hussein exploited the program, earning billions through illegal oil smuggling, according to a 2004 Central Intelligence Agency investigation.
